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Elon Musk's xAI plans to raise $4.3 billion to support the continued development of Grok.
On June 17, Bloomberg reported that informed investors revealed that Elon Musk’s artificial intelligence company xAI is in talks to raise $4.3 billion through equity financing. Most of the previously raised funds have been consumed, and the new funds will be used to support the ongoing development of its AI chatbot Grok. Recently, xAI has also attempted to raise $5 billion from debt investors for aggressive expansion.